Great Depression

Question 1

What is Black Tuesday?

Answer 1

When the stock market crashed

Question 2

What is buying on the margin?

Answer 2

Borrowing money (credit) to purchase stocks

Question 3

What is the New Deal?

Answer 3

FDR wanted to provide relief, recovery and reform

Question 4

What is a bank run?

Answer 4

customers withdrew all of their money out of the banks

Question 5

Who is Huey Long?

Answer 5

A US senate to follow his promises of radical redistribution of wealth

Question 6

What is the Hawley-Smoot Tariff Act

Answer 6

Raised tariffs (taxes) on US imports up to 50%

Question 7

What is interdependence?

Answer 7

Division of labor. A reliance on another to produce goods and services needed

Question 8

What are Hoovervilles?

Answer 8

A “town” that people built

that didn’t protect them just like Hoover

Question 9

What is the Business Cycle?

Answer 9

Series of expanding and contracting economic activity

Question 10

What is the FDIC?

Answer 10

Federal Deposit Insurance Companies. Insured that if the banks closed they are guaranteed some money back

Question 11

What is Social Security?

Answer 11

Established to provide help to the older/retired Americans with a source of income

Question 12

What is the Dust Bowl?

Answer 12

Dry dirt that covered a lot of the southern area

Question 13

What are Okies?

Answer 13

People who headed for California due to the dust bowl

Question 14

What is Court Packing Bill?

Answer 14

FDR wanted to add 6 judges to supreme court

Question 15

Who is Hebert Hoover?

Answer 15

The president during the Great Depression

Question 16

What are the 3 R’s

Answer 16

Relief
Recovery
Reform

Question 17

What is the TVA?

Answer 17

Tennessee Valley Authority: built dams that modernized and gave people jobs/electricity

Question 18

What is an Economic Indicator

Answer 18

statistic about economic activity analysis to predict future Business cycles

Question 19

What is the CCC?

Answer 19

Civilian Conversation Corps: employed young men to work on environmental projects

Question 20

How did the 1920s and 1930s differ?

Answer 20

in the 1920s the stock market peaked, employment rate was high

In the 1930s the stock market crashed and employment rate dropped

Question 21

What were the causes/effects of the Stock Market crash?

Answer 21

Causes:
Overproduction
Banking/money policies
Stock market practices

Effects: 
Hunger 
Homelessness 
Unemployment 
Charity/public assistance

Question 22

what was the effect or impact of the numerous bank runs following Black Tuesday

Answer 22

Effect: tons of banks closed

Impact: major debt among Americans who lost all of their savings

Question 23

Why did farmers suffer hard economic times?

Answer 23

The farmers suffered the longest drought in the US history which meant they couldn’t produce food to make money

Question 24

how did agricultural practices contribute to the dust bowl?

Answer 24

they didn’t rotate the farms so the land/soil became dry and when the wind came it picked up the dry dirt

Question 25

how were minorities affected by the great depression?

Answer 25

they were the first to lose their jobs and it was harder to get it back. the violence began against them

Question 26

what was the difference between President Hoover’s and Roosevelt’s views on the role of the federal government?

Answer 26

Hoover: believed that less government help was better and people had had to figure it out themselves

FDR: believed government involvement was much needed to help

Question 27

what were the similarities and differences between the experiences of urban and rural Americans?

Answer 27

Rural: dust bowl, Okies

urban: bread/soup finds
same: no money, hunger, no houses, no jobs

Question 28

what were the causes of the Great Depression?

Answer 28

1. overproduction/underconsumption
2. banking and money policies
3. stock market actions
4. political decisions

Question 29

what were some of the affects of the great depression? Give examples

Answer 29

1. homelessness – the jockey in the video lost farmland and had to move place to place looking for a job
2. hunger – people had to make food from the yard like the salad video
3. unemployment – 25% unemployed
4. charity/public assistance- soup lines out on the streets

Question 30

what are some examples of relief, recovery and reform provided by the new deal? give examples

Answer 30

Relief: NLRB was to give opportunities to assist companies and enforce Wagner act
Recovery: FDIC was to stabilize banking systems and limit their freedom
reform: TVA was to provide flood control and hydroelectric power, battled erosion and deforestation

Question 31

based on evidence to we looked at in class would you consider the new deal successful? Why?

Answer 31

successful because it created more jobs and also changed the government like added the Social Security act and created more organizations

Question 32

what is the legacy of the great depression?

Answer 32

created long term organizations like the FDIC and SSA. Also there’s more government involvement and protected organizations of labor. the presidential power was increased and first lady started getting more involved